Rekha Jhunjhunwala-backed Inventurus Knowledge ends 47.5% higher on listing day

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Shares of Inventurus Knowledge Solutions Ltd (IKSL) made a stellar listing at the bourses on Thursday. Compared to the IPO price of ₹1,329, the stock listed at ₹1,900 on the NSE and rose further to a high of ₹2,031 and closed at ₹1,960.85, reflecting a gain of 47.54 per cent over the issue price. On the BSE, the stock closed 47.50 per cent higher at ₹1,960.25.

The initial public offering of Rekha Jhunjhunwala and RARE Enterprises-backed Inventurus Knowledge Solutions was subscribed nearly 53 times. The ₹2,498-crore initial public offering (IPO) came out with a price band of ₹1,265 to ₹1,329.

The IPO was entirely an Offer-for-Sale (OFS) comprising 1.88 crore equity shares by the promoters and individual shareholders, with no fresh issue component.

The quota for QIBs was subscribed 80.64 times followed by non-institutional investors 23.25 times and retail investors by 14.55 times. The employee portion was booked 5.2 times.

Earlier, the company, which provides healthcare support services, secured ₹1,120.18 crore from anchor investors as part of the IPO process. IKSL allotted 84.29 lakh shares to 61 funds at ₹1,329 apiece, including to investors such as Fidelity Funds, Government Pension Fund Global, Abu Dhabi Investment Authority, Prudential Hong Kong, TIMF Holdings, HSBC Global, HDFC Mutual Fund (MF), Aditya Birla Sun Life MF, Axis MF, Mirae Asset, and WhiteOak Capital.

IKSL is a technology-driven healthcare solutions provider, offering a care enablement platform that assists physician enterprises primarily in the US, Canada and Australia, with a focus on the US markets. The company is a leading partner for outpatient and inpatient care organisations, serving over 800 clients, including health systems, academic medical centres, multi-specialty and single-specialty medical groups, and ancillary healthcare organisations, as of March this year.

ICICI Securities Ltd, Jefferies India Private Ltd, JM Financial Ltd, JP Morgan India Private Ltd and Nomura Financial Advisory and Securities (India) Private Ltd were the book-running lead managers to the issue.